How to Bet on Absolutely Anything

07/29/201815 Comments

So, you know how decentralized technologies are making it possible to do things that were completely impossible before? Like creating uncensorable information storage and retrieval networks or circumventing the gun laws of the would-be tyrants?

Well, how about if these technologies could also allow you to bet on anything? And I mean anything.

Doesn’t sound so amazing? Well, what if we’re not talking about placing a bet on the outcome of the next Super Bowl, but the time and location of the next terror attack? Or the likelihood of the President of the United States being assassinated?

Most of us understand that betting on such things is deeply irresponsible and unethical. After all, if a gambling market creates a financial reward for those who predict an event, then it also provides an incentive to make that event happen, no matter how horrific. Why just commit a political assassination when you can also profit from that assassination?

Well, guess what? You don’t have to wait for this hypothetical prediction market to be created. It already has. It’s called Augur, and it’s currently running on the Ethereum network.

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